Fall 2017 ACCT 300 Intermediate Accounting 1 Homework #1 Brittney is a licensed CPA. During the first month of operations of her business (a ole proprietorship), the following transactions occurred. eptember 1. Invested $30,000 cash in the business and equipment valued at $10,000 in the business 2. Purchased supplies on account for $2,000 3. Paid office rent of $1,200 for a year 5. Completed audit of financial statements and invoiced a client $4,000 10. Received $1,500 as advance payment for a tax consulting assignment 11. Donated $700 of business cash towards hurricane Harvey victims as a part of business social responsibility 15. Paid utilities $250 16. Completed a tax consulting assignment for which money had been received on September 10. 17. Purchased supplies $800 cash 20. Paid insurance for the month $600 22. Received $2,500 from clients who had received services but not paid 24. Paid creditors who had supplied on account $1,200 25. Performed services to clients who immediately paid cash of $4,800 26. Paid administrative assistant $1,800 wage for the month 28. Bought a computer for the business for $2,000 using personal funds 29. Purchased a vehicle $6,000 for the business. Did not pay cash but issued a note
